Africa-focused British independent energy company, Savannah Energy, has completed the acquisition of oil and gas supermajor, ExxonMobil’s entire upstream and midstream asset portfolio in Chad and Cameroon. The deal was closed on 9 December at a cost of $407 million.
The announcement follows a Share Purchase Agreement, signed in 2021, between Savannah Energy and ExxonMobil, resulting in the acquisition by the British-listed company of a 40% interest in the Doba Oil Project in southern Chad, which includes interests in the Miandoum, Bolobo, Kome, Moundouli, Nya, Maikeri, and Timbre producing fields; as well as a 40% indirect interest in the Chad-Cameroon export transportation system, which comprises a 1,081km pipeline and the Kome Kribi 1 Floating Production Storage and Offloading facility, offshore Cameroon.
